NEW YORK CITY — American Realty Capital New York City REIT Inc. (NYCR) has entered into an agreement to acquire an institutional-quality office building in downtown Manhattan for $253 million, exclusive of closing costs. Located at 123 William St., the 545,000-square-foot property is currently 81 percent leased. The property’s largest tenants include the State of New York, the City of New York, the United States of America, the Securities Training Corp. and McAloon & Friedman PC. Additional terms of the transaction were not released.
EAST HANOVER, N.J. — Colliers International has brokered the sale of a retail strip center in East Hanover. Located at 346 Route 10, the 30,000-square-foot property sold for $12.9 million. The multi-tenanted property is currently occupied by Party City, Verizon Wireless and Jersey Mike’s Subs and has 25 percent of unoccupied space remaining. Jacklene Chesler of Colliers represented the seller, JEMB Realty, and procured the buyer, The Klein Group, in the deal.
MERIDEN, CONN. — Marcus & Millichap has brokered the sale of a CVS/pharmacy property located at 540 West Main St. in Meriden. A New Jersey-based investor purchased the property for $4.1 million. Originally constructed in 1999 for CVS, the property offers street exposure and a drive-thru lane. Laurie Ann Drinkwater and Seth Richard of Marcus & Millichap represented the seller and buyer in the transaction.
HAMDEN, CONN. — Press/Cuozzo Commercial Services has arranged the sale of a four-building apartment portfolio located at 63-69 and 75 Fairview Ave. and 154-164 Warner St. in Hamden. The portfolio, which features a total of 18 units, sold for $1.1 million. Stephen Press of Press/Cuozzo represented the owner, Tomer Real Estate Associates, and procured the buyer, Warner-Fairview LLC, in the transaction.
CARY, N.C. — Chambers Street Properties has completed the $16.4 million sale of Regency Creek I, a 122,087-square-foot office building located in Cary. The four-story property is located at 12040 Regency Parkway. The building is 100 percent leased and serves as the North American headquarters for ABB, a leading power and automation technology company. The buyer, Intercontinental Real Estate Corp., assumed mortgage loans of approximately $8.6 million in the transaction. This property was included in the Chambers Street’s joint venture with Duke Realty Corp. and the sales price represents Chambers Street’s 80 percent share. Ben Kilgore and Jeff Glenn of CBRE|Raleigh represented Duke Realty in the transaction.
ORLANDO, FLA. — Baltimore-based Continental Realty Corp. has purchased Towne Square Shopping Center, a 126,000-square-foot retail center located at 11029 W. Colonial Drive in Ocoee, a suburb of Orlando. Continental Realty purchased the asset for $10.1 million through CRC Fund III LP, the company’s value-add retail and multifamily investment fund. The center is currently 95 percent occupied and is anchored by an Old Time Pottery. Ray Turchi of Marcus & Millichap’s Orlando office represented the seller, a private investor based in New York, in the transaction. Charlie Boscarino of Retail Solutions Advisors has been selected as the exclusive leasing broker for the center.
SUGAR LAND, TEXAS — NAI Partners has arranged a lease of 23,000 square feet of new industrial space located at 12630 W. Airport Blvd. in Sugar Land. ColFin leased the space to 2020 Exhibits. Ed Bane, Jon Michael and Jake Wilkinson of NAI Partners represented the landlord, ColFin. Chris Caudill, also of NAI Partners, represented the tenant, 2020 Exhibits, in the lease negotiations.
IRVING, TEXAS — Signature Office REIT Inc. has arranged a 10-year lease for NEC Corp. of America (NEC) in Irving. NEC will occupy space within the 119,611-square-foot Royal Ridge V building located at 3929 W. John Carpenter Freeway. Beginning on Dec. 1 of this year, NEC will relocate its U.S. headquarters to Royal Ridge V. NEC is a technology integrator of advanced IT and communications solutions. Mike Wyatt and Bill McClung of Cushman & Wakefield represented NEC in the transaction. Nathan Durham and Fletcher Cordell of Transwestern represented Signature. Signature is a self-managed, non-traded public real estate investment trust focused primarily on core office real estate.
AUSTIN — ARA has arranged the sale of Serena Park, a 36-unit apartment community located at 9210 Northgate Blvd. in Austin. Andrew Shih of ARA represented the seller, a private partnership based in California, in the transaction. The buyer was not named. Built in 1972, Serena Park is a garden-style apartment community that includes one-bedroom units. The property is individually metered for electric and master metered for gas and water. The buyer plans to update the units. The asset was 92 percent occupied at the time of sale.
CAMPBELL, CALIF. – The Carlyle Group has acquired Vasona Technology Park, a 314,256-square-foot office/flex center in Campbell, for an undisclosed sum. The seven-building center is located at 200-250 E. Hacienda and 1315-1357 Dell Ave. The seller, Hines Interests L.P., was represented by DTZ’s Eric Fox, Robert Gilley and Steve Hermann.